Round 16 GDC Program Raptor East TEMPEST(r) Airborne Electromagnetic Survey (Including Preliminary Airborne Exploration Survey PAE003-2023) Final Report EL 31869, EL 31871, EL 31872, EL 31874, EL 31889, EL 32582

Abstract

In May 2023, IGO Limited (IGO) were successfully awarded co-funding in Round 16 of the Geophysics and Drilling Collaboration (GDC) Program administered by the Northern Territory Government. The co-funding was provided to complete an airborne electromagnetic (AEM) survey over six tenements in the eastern portion of IGO's Raptor Project in central Australia. In November 2023, IGO were approved to fly an additional Preliminary Airborne Exploration survey PAE003-2023 over one extra application tenement adjoining the north of the GDC Program survey area. Consequently in 2024, the two surveys were merged into one, with the revised GDC Round 16 airborne EM survey covering a total of seven Raptor tenements. A 1,429.2-line-km, 2-km-line-spaced TEMPEST(r) airborne electromagnetic survey covering 2,490.5 km2 over 6 areas was flown across 7 tenements within the Aileron Province (EL 31869, EL 31871, ELA 31870, EL 31872, EL 31874, EL 31889 and EL 32582). The 2km-spaced survey commenced on the 31st of May 2024 and was completed on the 5th of June 2024. IGO are exploring this part of the Raptor Project for magmatic nickel-copper-cobalt mineralisation hosted within mafic intrusions and pegmatite-hosted lithium mineralisation. The tenure is prospective for greenfields discovery. There has not been systematic exploration for either mineralisation-type. The detection for hardrock lithium and magmatic nickel-copper-cobalt deposits is difficult below moderate depth of cover. The AEM survey aimed to map areas with shallow and moderate cover accurately. This will define explorable areas for follow-up soil sampling and electromagnetic surveys. Any electromagnetic conductors beneath shallow cover on flight lines (which may correspond to sulfide mineralisation associated with mafic and ultramafic intrusions) would also be directly detected. The new EM survey data can also be used to generate a conductive cover regolith map that delineate areas suitable for exploration using ground EM, and shallow exploration using soil sampling methods. The survey generated 8 anomalies that are suitable for further exploration. These targets will be followed-up with possible infill airborne EM and ground EM surveys once Native Title and/or Indigenous Land Use Agreements are ratified with the Central Land Council. If these EM targets are still considered significant after ground EM surveys, IGO intend to drill test the highest priority targets for magmatic sulfide mineralisation.